See Local News
Get Balanced News From Your U.S. State.
See Local News
See all locals

‘Earth is our only shareholder’: Patagonia’s billionaire family transfers retailer’s entire ownership to climate-change efforts

Posted on AllSides September 14th, 2022
From The Center
Patagonia

Giving 1% of profits each year and cajoling others to do the same to help save the Earth that Patagonia’s customers regularly explore is no longer enough.

Almost 50 years after its 1973 founding, billionaire Yvon Chouinard and his family will surrender all ownership of the privately held outdoor clothing retailer, valued at about $3 billion, to two entities that will divert profits toward combating climate change and protecting undeveloped land, the former rock climber-turned-executive said in a letter Wednesday.

Chouinard, his wife and two adult children have transferred their...

Read full story

AllSides Picks

https://www.marketwatch.com/story/earth-is-our-only-shareholder-patagonias-billionaire-family-transfers-retailers-entire-ownership-to-climate-change-efforts-11663192502

More News about Business from the Left, Center and Right

From the Left

From the Center

From the Right